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KPMG comments on today’s inflation figures

KPMG comments on today’s inflation figures

Yael Selfin, Chief Economist at KPMG UK commented on on today’s inflation figures

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“End of sales sees inflation moving within the cusp of Bank of England’s target” says Yael Selfin, Chief Economist at KPMG UK:

“Solid wage growth and minimal spare capacity could encourage the Bank of England to raise rates once more by November this year to 1%.

“Strong services inflation compared to goods inflation point at the simmering inflationary pressures as a result of rising wages and the record tight UK labour market.

”Our expectations are for inflation to average around the Bank of England’s 2% target this year but to rise further in 2020, putting pressure on them to act more aggressively than markets currently anticipate.”


-ENDS-


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